Amazon.com Inc (NASDAQ:AMZN) fell Friday a day after the e-commerce giant reported disappointing guidance that overshadowed strong quarterly results.
Net sales are expected to be between $56 billion and $60 billion in the first quarter, or to grow between 10% and 18% compared with a year earlier. The company said it's expecting an unfavorable impact of about 2.10 percentage points from foreign-exchange rates.
Shares fell 4.3% in Friday's premarking trading.
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Wall Street analysts were forecasting $61 billion in first-quarter net sales.
The company reported fourth-quarter earnings of $6.04 per share on revenue of $72.4 billion, beating street estimates of $5.67 per share on $71.61 billion in revenue.
The fourth-quarter is generally the largest for Amazon because it includes the holiday shopping season.
Operating income is expected to be between $2.3 billion and $3.3 billion in the first quarter, compared with the year-ago period’s $1.9 billion.
Amazon shares are trading about 18% below their August 2018 high of $2,050.
Contact Katie Lewis at katie@proactiveinvestors.com